Zacks Investment Research upgraded shares of Energy Transfer LP Unit (NYSE:ET) from a strong sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Energy Transfer LP owns and operates diversified portfolios of energy assets primarily in the United States. The company is a publicly traded limited partnership with core operations which include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids and refined product transportation and terminalling assets; NGL fractionation and various acquisition and marketing assets. Energy Transfer LP, formerly known as Energy Transfer Equity L.P., is based in Dallas, United States. “
ET has been the subject of several other research reports. ValuEngine raised Energy Transfer LP Unit from a strong sell rating to a sell rating in a report on Saturday, January 5th. BMO Capital Markets reaffirmed a buy rating and issued a $18.00 price objective on shares of Energy Transfer LP Unit in a report on Thursday, December 6th. Evercore ISI assumed coverage on Energy Transfer LP Unit in a report on Tuesday, February 5th. They set an outperform rating for the company. Citigroup assumed coverage on Energy Transfer LP Unit in a report on Thursday, November 29th. They set a buy rating for the company. Finally, Raymond James reissued a buy rating and set a $20.00 price target on shares of Energy Transfer LP Unit in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $19.75.
Shares of ET traded up $0.19 during trading hours on Wednesday, hitting $14.98. The stock had a trading volume of 10,593,126 shares, compared to its average volume of 10,532,272. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.74 and a quick ratio of 0.53. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $19.19. The firm has a market capitalization of $17.80 billion, a P/E ratio of 13.03, a PEG ratio of 0.51 and a beta of 1.75.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 20th. The pipeline company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Energy Transfer LP Unit had a return on equity of 6.19% and a net margin of 3.18%. The firm had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $14.67 billion. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. Analysts expect that Energy Transfer LP Unit will post 1.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 19th. Shareholders of record on Friday, February 8th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend was Thursday, February 7th. Energy Transfer LP Unit’s dividend payout ratio is presently 106.09%.
In related news, CFO Thomas E. Long purchased 24,500 shares of the business’s stock in a transaction on Monday, December 24th. The stock was acquired at an average price of $12.05 per share, with a total value of $295,225.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.
Energy Transfer LP Unit Company Profile
Energy Transfer LP provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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